Neuberger Berman has held a final close for its Neuberger Berman Opportunistic Capital Solutions Fund with $1.95 billion of commitments.
The fund is co-sponsoring a series of SPACs with private investment firm CC Capital, led by Chinh Chu.
The CC Neuberger SPACs utilize Neuberger Berman’s public market acumen and CC Capital’s substantial private market expertise to identify and bring public “quality growth” companies that are currently private via the U.S. SPAC market. The CC Neuberger SPAC structure is differentiated by providing companies access to scaled anchor and backstop capital, which enhances the likelihood of deal closure. NBOKS has entered into a $200 million forward-purchase agreement with each co-sponsored SPAC. Additionally, NBOKS has entered into equity backstop facility agreements to invest up to $300 million across the CC Neuberger SPACs, on a first-come first-serve basis, to offset potential SPAC shareholder redemptions. For its limited partner
